On July 11, 2024, Fannie Mae and Freddie Mac released the latest update on the FHFA Credit Score Initiative Playbook. Included in this is an updated timeline which has not changed much from the timeline from the last update. At this point they are still targeting Q4 2025 for the full implementation of the new … Read more
In the fall of 2022, the Federal Housing Finance Authority (FHFA) unveiled the Enterprise Credit Score and Credit Reports Initiative. This dual-phase plan aims to shift from requiring three credit reports for borrowers to just two reports, termed a ‘bi-merge.’ Additionally, it intends to transition from current scoring models to FICO 10T and Vantage 4.0. … Read more
A lot of questions have been circulating through the industry around the proposed changes to Credit Score Models that were announced by the Federal Housing Finance Agency (FHFA) in October 2022. In March, Fannie Mae created a “Partner Playbook” that covers a lot of detail regarding the upcoming changes. The Playbook was just revised in … Read more